British Finance Minister Rachel Reeves has pledged that there will be no return to austerity policies as she prepares to unveil her budget proposals next month. While acknowledging the tough economic challenges inherited from the previous Conservative government, Reeves emphasized her commitment to rebuilding Britain through ambitious spending and taxation measures.
The ruling Labour government has faced criticism for generating an atmosphere of doom over the state of the public finances.
Liverpool, ENGLAND — U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, but said she would make hard choices as she lays out budget proposals next month. The ruling Labour government has faced criticism for generating an atmosphere of doom over the state of the public finances, with Prime Minister Keir Starmer warning ofReeves has suggested that taxes are likely to rise at her upcoming Oct. 30 Autumn budget after discovering a £22 billion "black hole" in the public finances. Her predecessor Jeremy Hunt, from the rival Conservative Party, has denied the claims as"I know that you are impatient for change.
Reeves also restated the government's position as"proudly pro-business," referencing plans next month to host a business summit and announce proposals for a new national industrial strategy. That, she said, would include measures for Britain to reach its net zero and clean energy goals by 2030.
UK Politics Labour Party Rachel Reeves Budget Austerity Taxation
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK Finance Minister Reeves vows no austerity despite tough budgetFollowing Labour's election victory in July, Rachel Reeves suggested taxes were likely to rise in her first budget on Oct. 30.
Read more »
No return to austerity, says UK finance minister Rachel ReevesUK Finance Minister Rachel Reeves will pledge no return to austerity policies despite warnings of tough budget decisions aimed at fixing the economy. Reeves will emphasize stability as crucial for investment and future planning.
Read more »
Sonic The Hedgehog 3 Is Already Utilizing Keanu Reeves' Shadow PerfectlyCollage of Keanu Reeves from John Wick and Shadow (Reeves) from Sonic the Hedgehog 3
Read more »
Reeves Vows to Rebuild Britain, No Return to AusterityU.K. Finance Minister Rachel Reeves pledged that her upcoming budget will focus on rebuilding the country and avoid austerity measures. Her announcement came as the Labour party kicked off its annual conference, their first in power for 15 years. Despite a reported £22 billion ($29 billion) 'black hole' in public finances, Reeves ruled out increases to income tax, National Insurance, VAT, and corporation tax.
Read more »
Israel Launches Major West Bank Raid as Israeli Minister Vows Gaza-Like AttackIsrael is cutting off the northern West Bank, destroying roads, surrounding hospitals and implementing curfews there.
Read more »
Japan finance minister says Seven & i's new 'core' tag doesn't raise bar for buyoutJapan finance minister says Seven & i's new 'core' tag doesn't raise bar for buyout
Read more »